WASHINGTON (dpa-AFX) - SBA Communications Corporation (SBAC), an independent owner and operator of wireless communications infrastructure, on Monday reported lower net income for the third quarter, while updating its full-year outlook.
Third-quarter net income attributable to the company was $231.3 million, or $2.19 per share, compared with $236.8 million, or $2.20 per share, a year earlier.
AFFO for the quarter was $337.3 million or $3.19 per share, compared to $354.9 million or $3.30 per share last year.
Total revenue declined to $713.9 million from $732.3 million. Site leasing revenue increased 1.4% to $665.4 million, while site development revenue fell 36% to $48.5 million.
The company now expects revenue of $2.833 billion to $2.858 billion, AFFO of $1.284 billion to $1.308 billion and AFFO per share of $12.15 to $12.37.
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